I like this trend.
First, Chase slashed the minimum spending requirement on its Ink Preferred card from $15,000 to $8,000.
Now, one of my favorite (and frequently used) card cards is following suit: the Capital One SavorOne Cash Rewards Credit Card dropped its minimum spending requirement by 50%!
Capital One SavorOne Cash Rewards Credit Card Welcome Offer
You can earn $200 cash back after you spend $500 on purchases within the first three (3) months of being approved for card membership.
The previous offer required you to spend $1,000!
Cashback can be applied toward statement credit, sent as a check, deposited via ACH, applied toward travel, or transferred as points to another Capital One product.
The card also features a 0% introductory APR for the first 12 months, then a variable APR after that. (See rates and fees.)
Why I Really Like This Card
First, there’s no annual fee.
The Capital One SavorOne Cash Rewards Credit Card — and several other Cap One products — offer 10% cashback for Uber rides and Uber Eats deliveries through November 14, 2024. (Plus, card members can register for Uber One and receive a statement credit for the monthly $9.99 fee for Uber One when they charge it to their eligible Capital One card through November 14, 2024.)
I’ve now earned well over $100 back on Uber rides and Uber Eats purchases since becoming a card member late last year.
I also like that it earns 3% on entertainment spending such as purchases made with movie theatres, concert promoters, bowling alleys, and professional or semi-professional live sporting events. (There are several more examples.)
Other 3% categories include dining, grocery stores, and some streaming services.
All of that is pretty good for a no-annual-fee card.
Final Approach
The Capital One SavorOne Cash Rewards Credit Card dropped its welcome offer’s minimum spending requirement from $1,000 to $500. If you’ve had your eye on the card and/or use Uber with some regularity, this might be worth considering.
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